Posted 7 months ago | by Ben Armstrong
Central Planners Fall Flat – The Fires Will Burn While Mobs Rage!
Things aren't looking so hot for the 1% at the top. We know – it looks a lot worse for the people who are struggling for food and such – and clearly, it isn't looking so hot for them either. The big difference is how far they have to fall – and what kind of world will be left when the fires are out.
One thing that is pretty clear – there will be more fires – and the mobs are only growing in both size and violence. As this is being written – police in Lousiville, KY, are being shot – and this can only lead to more violence.
The real problem in this situation is that when violence is put on trial – the society loses. We use a monopoly on violence as a core principle of social structures – so when the 'Police' come under fire – the society as a whole faces an existential threat.
We saw this dynamic play out very clearly over the summer in Seattle – where the people behind CHAZ/CHOP had to take up weapons to enforce their rules once the police fell back. Violence is a part of any society – that is just how it is.
Where Will All The Money Go?
So...despite the claim from Jerome Powell that,
“Economic activity has picked up from its depressed second-quarter level, when much of the economy was shut down to stem the spread of the virus. Many economic indicators show marked improvement. Household spending looks to have recovered about three-fourths of its earlier decline, likely owing in part to federal stimulus payments and expanded unemployment benefits. The housing sector has rebounded, and business fixed investment shows signs of improvement. In the labor market, roughly half of the 22 million payroll jobs that were lost in March and April have been regained as people return to work.”
It is pretty hard to believe that there is much happening in the way of economic activity – as there are just so many empirical facts that would contradict these kinds of assertions. Many US metro centers are locked down (or on fire), which just has to be a drag on the economy.
No, the economy isn't doing well Mr. Powell, and your trite words are an insult to anyone who has a working brain. Instead, the masses of money that have and will be created are chasing fewer real goods – which is going to be pretty rough for anyone who likes things like food.
What is the Plan Anyway?
Whenever central planners take over the global economy – you need to have your own plan. The great minds of the 1% probably don't care about you (at all) – so you and your loved ones are going to have to put a plan in place that accounts for terrible social planning – as well as some unwanted violence.
Crypto should probably be a part of that plan. Forget about the fiat-based gains that crypto is likely to produce in the medium and long term. We are talking about having money that can be used anywhere there is internet.
With the increased risk of total social collapse (you probably can't imagine the horror) – anyone without a plan that includes working with alternative money (gold or silver is good to have around as well) is likely going to be in a terrible situation.
This isn't the story you will get from the mainstream media or Wall St. – and there is a good reason for that. While Wall St. yammers on about their manufactured financial products – they are buying and importing physical gold in record amounts.
Don't be a sucker – prepare – and keep yourself as safe as possible.
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